"The protein ingredient market in Australia is diverse and encompasses a wide range of protein sources used in various food and beverage products. Australia's strong agricultural sector, focus on healthy living, and growing demand for protein-rich foods contribute to the development and availability of protein ingredients .Australia is known for its animal protein sources, and ingredients such as beef, lamb, poultry, and dairy products play a significant role in the protein market. Animal-based protein ingredients, including meat powders, collagen peptides, and whey protein, are used in various food products and nutritional supplements. Whey protein, derived from milk during the cheese-making process, is a popular protein ingredient in Australia. It is widely used in sports nutrition products, protein powders, meal replacements, and functional foods due to its high protein content and excellent amino acid profile. Plant-based protein ingredients have seen a surge in popularity in Australia, driven by the growing demand for vegan and vegetarian products, as well as a desire for more sustainable and allergen-friendly options. Popular plant-based protein ingredients include soy protein, pea protein, rice protein, and hemp protein. These ingredients are used in various plant-based meat alternatives, protein powders, bars, and other functional food products. Australia is home to unique indigenous protein sources that are gaining attention. For example, wattleseed, a protein-rich ingredient derived from native acacia plants, has been used traditionally by Indigenous Australians and is now being explored for its nutritional value and flavor profile. Australia's extensive coastline and abundant marine resources contribute to the availability of marine-based protein ingredients. Ingredients such as fish protein, fish collagen, and algae-derived proteins are used in various food and beverage products, dietary supplements, and functional foods due to their specific health benefits and potential for sustainable production.it has a strong focus on research and development in the protein ingredient sector. Research institutions and food technology companies collaborate to explore new protein sources, optimize production processes, and develop innovative protein ingredients that meet the evolving needs and preferences of consumers.The protein ingredient market in Australia is dynamic, driven by a combination of animal-based and plant-based proteins, as well as innovations in sourcing and production methods.. According to Bonafide Research, report title, “Australia Protein Ingredients (Animal & Plant) Market Overview, 2027”, it is stated that the protein ingredient market will show a CAGR of more than 6% from 2021 to 2027. The Australian protein ingredient market is divided into two segments, namely plant-based and animal-based protein ingredients. The plant-based protein ingredient is considered to be an aggregate of soy protein, pea protein, wheat protein, and rice protein. Pea protein is the major protein source for almost every Australian. Pea protein shows a growth of more than 9% in the upcoming years as its implication is mainly done in terms of powder and used in ready-to-drink materials. However, on the other hand, the wheat protein is also showing a growth of around 8%. The wheat protein in Australia is used as a whole grain. This protein ingredient market trend will increase as many people have shifted their interest towards plant-based protein ingredients.On the other hand, the animal-based protein ingredients are the sum of egg protein, milk protein, whey protein, casein/caseinates protein, gelatin, and fish protein. The number of increasing sports enthusiasts and gym hitters is the major source of the larger market size of animal-based protein ingredients in the Australian market. Whey protein is expected to grow at a CAGR of around 9% between 2021 and 2027. However, following whey protein, egg protein has the second highest market share in the upcoming years, at around 6%. As eggs are Australia’s major breakfast cereal, most of the consumption is done through the food and beverage sector and the pharmaceutical sector, which both show growth of more than 7% and 8%, respectively. Because of Australia’s busy schedule, the proteins are mainly consumed in ready-to-drink products.The major shift from animal-based protein to plant-based grounded protein component happened during the COVID-19 situation. Numerous people globally have also adopted these shifts. This led the plant-based protein market in Australia to show growth. While wheat, corn, and rice are the main contributors to the protein ingredient market, they are also used as daily food materials by citizens. The change in the consumption pattern took place when the younger generation stepped into the request. The younger generation consumed those protein supplements that led them to develop a muscular body. The most popular protein amongst the youthful population is whey protein. The younger generation has also driven the market for other protein ingredients such as eggs and milk. The Australians also use other animal-based proteins like fish oil in order to reduce the threat associated with heart disease.Considered in this report• Geography: Australia• Historic Year: 2016• Base year: 2021• Estimated year: 2022• Forecast year: 2027Aspects covered in this report• Australia Protein Ingredients Market with its value and forecast along with its segments• Region & wise Protein Ingredients market analysis• Application wise Protein Ingredients distribution• Various drivers and challenges• On-going trends and developments• Top profiled companies• Strategic recommendationBased on source of protein ingredients• Animal protein• Plant proteinBased on Animal type of protein ingredients • Egg protein• Milk protein• Whey protein• Casein protein• Gelatin protein• Fish protein, OthersBased on plant type of protein ingredients• Soy protein• Pea protein• Wheat protein• OthersBy application type in the report:• Food & Beverages• Animal Feed• Cosmetic & Personal care• Pharmaceutical & Nutraceutical• OthersThe approach of the report:This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.Intended audienceThis report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to food and beverage industry, Medical industry, cosmetic industry, animal nutrition industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. "
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample